| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Good |
| Demographics | 54th | Good |
| Amenities | 47th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3420 Falcon St, Pomona, CA, 91767, US |
| Region / Metro | Pomona |
| Year of Construction | 1983 |
| Units | 48 |
| Transaction Date | 2012-02-16 |
| Transaction Price | $6,450,064 |
| Buyer | FALCON I LLC |
| Seller | MGF FALCON STREET LLC |
3420 Falcon St Pomona Multifamily Investment
This 48-unit property built in 1983 sits in a neighborhood with strong rental demand, where 57.8% of housing units are renter-occupied and neighborhood occupancy reaches 95.6%.
The property operates within an Urban Core neighborhood in Pomona that demonstrates solid rental fundamentals. With 57.8% of housing units renter-occupied, the area ranks in the top quartile nationally for rental tenure share, indicating strong multifamily demand. Neighborhood occupancy of 95.6% ranks above the metro median among 1,441 Los Angeles-Long Beach-Glendale neighborhoods, supporting lease stability expectations.
The 1983 construction year aligns with the neighborhood average, presenting opportunities for value-add improvements and modernization to capture upside. Demographics within a 3-mile radius show a population of 105,727 with projected 4.5% growth through 2028, expanding the potential tenant base. Median household income of $99,449 supports current rent levels, though forecast income growth of 23.2% over five years suggests improving purchasing power.
Home values averaging $612,233 rank in the 90th percentile nationally, reinforcing rental demand as ownership costs remain elevated relative to income. The neighborhood's amenity profile includes 4.18 grocery stores per square mile, ranking in the 94th percentile nationally for grocery access, which supports tenant retention through convenience.
Property crime rates show improvement with an 84.2% year-over-year decline, ranking in the 98th percentile nationally for crime reduction trends. Current property offense rates of 415.8 per 100,000 residents place the neighborhood in the middle range among Los Angeles metro neighborhoods, while violent crime rates of 54.0 per 100,000 residents rank similarly.
The substantial reduction in both property and violent crime rates over the past year indicates positive momentum in neighborhood safety conditions, which can support tenant retention and property values over time.
The property benefits from proximity to major corporate employers that provide workforce housing demand, with several Fortune 500 companies maintaining operations within commuting distance.
- Ryder Vehicle Sales — transportation services (6.2 miles)
- Waste Management — environmental services (8.2 miles)
- Mckesson Medical Surgical — healthcare distribution (11.1 miles)
- General Mills — consumer goods (13.9 miles)
- United Technologies — aerospace & defense (14.9 miles)
This 48-unit property presents a value-add opportunity in a neighborhood with strong rental fundamentals. According to CRE market data from WDSuite, the area maintains 95.6% occupancy rates above metro averages, while the high renter-occupied housing share of 57.8% indicates sustained multifamily demand. The 1983 vintage provides renovation upside potential to capture rent premiums in a market where median contract rents reach $1,717.
Demographic projections within a 3-mile radius show 4.5% population growth through 2028, expanding the tenant pool while household income growth of 23.2% supports rent escalation potential. High home values at $612,233 median reinforce rental demand by keeping ownership costs elevated relative to local incomes.
- Neighborhood occupancy of 95.6% ranks above metro median for lease stability
- 57.8% renter-occupied housing share ranks top quartile nationally
- 1983 construction year offers value-add renovation opportunities
- Population growth of 4.5% projected through 2028 expands tenant base
- Monitor rent-to-income ratios at 26% for affordability pressure on renewals